Examlex

Solved

Price Is the Only Rationing Device That Can Be Used

question 133

True/False

Price is the only rationing device that can be used in a modern economy.


Definitions:

Median Income

The middle value of income in a given population, such that half earn more and half earn less.

Poverty Rate

The poverty rate is a statistical measure that estimates the percentage of the population living below the poverty line, based on income or consumption levels.

World's Population

The total number of people living on Earth at a given time, which is subject to change due to birth rates, death rates, and migration patterns.

Government Assistance

Programs and services provided by the government aimed at supporting individuals, groups, or sectors in need, including welfare, subsidies, and grants.

Related Questions